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2012 SESSION

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SB 409 Recordation tax; eliminates exemption for deeds of trust securing a refinanced obligation.

Introduced by: Emmett W. Hanger, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Recordation tax.  Eliminates the recordation tax exemption for certain deeds of trust securing a refinanced obligation and establishes a reduced tax for all refinancing deeds of trust or mortgages that is equal to a maximum of 18 cents ($0.18) per $100 of the amount refinanced. Under current law, there is an exemption for a deed of trust or mortgage that is refinanced with the same lender on the principal amount of the original debt; all other such instruments of refinancing are subject to the tax at rates higher than the new rates established in the bill.

FULL TEXT

• 01/11/12  Senate: Prefiled and ordered printed; offered 01/11/12 12102509D  pdf | impact statement
• 03/05/12  Senate: Bill text as passed Senate and House (SB409ER)  pdf | impact statement
• 04/18/12  Senate: Reenrolled bill text (SB409ER2)  pdf
• 04/18/12  Governor: Acts of Assembly Chapter text (CHAP0820)  pdf

AMENDMENTS

• House amendments
• House amendments engrossed
• Governor's recommendation

HISTORY

• 01/11/12  Senate: Prefiled and ordered printed; offered 01/11/12 12102509D
• 01/11/12  Senate: Referred to Committee on Finance
• 02/07/12  Senate: Reported from Finance (11-Y 4-N)
• 02/08/12  Senate: Constitutional reading dispensed (39-Y 0-N)
• 02/09/12  Senate: Read second time and engrossed
• 02/10/12  Senate: Read third time and passed Senate (39-Y 1-N)
• 02/17/12  House: Placed on Calendar
• 02/17/12  House: Read first time
• 02/17/12  House: Referred to Committee on Finance
• 02/20/12  House: Assigned Finance sub: #1
• 02/27/12  House: Reported from Finance with amendments (21-Y 0-N)
• 02/28/12  House: Read second time
• 02/29/12  House: Read third time
• 02/29/12  House: Committee amendments agreed to
• 02/29/12  House: Engrossed by House as amended
• 02/29/12  House: Passed House with amendments (91-Y 5-N)
• 02/29/12  House: VOTE: PASSAGE (91-Y 5-N)
• 02/29/12  Senate: House amendments agreed to by Senate (40-Y 0-N)
• 03/05/12  Senate: Enrolled
• 03/05/12  Senate: Bill text as passed Senate and House (SB409ER)
• 03/05/12  House: Signed by Speaker
• 03/07/12  Senate: Signed by President
• 04/09/12  Senate: Governor's recommendation received by Senate
• 04/17/12  Senate: Placed on Calendar
• 04/18/12  Senate: Senate concurred in Governor's recommendation (39-Y 0-N)
• 04/18/12  House: House concurred in Governor's recommendation (91-Y 2-N)
• 04/18/12  House: VOTE: ADOPTION (91-Y 2-N)
• 04/18/12  Governor: Governor's recommendation adopted
• 04/18/12  Senate: Reenrolled
• 04/18/12  Senate: Reenrolled bill text (SB409ER2)
• 04/18/12  Senate: Signed by President as reenrolled
• 04/18/12  House: Signed by Speaker as reenrolled
• 04/18/12  House: Enacted, Chapter 820 (effective 7/1/12)
• 04/18/12  Governor: Acts of Assembly Chapter text (CHAP0820)